The Forsayth Project is Altius Mining Limited’s flagship and wholly owned project located in Far North Queensland. The gold treatment plant is expected to be commissioned in mid-2012, and includes crushing, gravity and flotation circuits. Test mining and processing has commenced.
Key Statistics
LICENCE NO
ML3417, ML3418, EPM14498
LOCATION
Forsayth, FNQ (400km south-west of Cairns, 60km north-west of the Kidston Gold Mine)
PROJECT PHASE
Production (ML3417 Ropewalk, ML3418 Flying Cow)
Feasibility (ML3417 New Gossan, EPM14498 Queenslander, EPM14498 Lady Franklin, EPM14498 Lightning & Lightning Flash)
SIZE
73 Sq Km
OWNERSHIP
100%
PRODUCT
Gold
REGIONAL GEOLOGY
EPM 14498 is approximately 80 km2 and contains over 100 old workings and mines. The area appears to be part of a much larger ‘duplex’ system, strikingly similar geologically to many of the world’s significant gold deposits.
The Kidston Magnetic Linearment, locally known as the Big Reef Fault (BRF) passes through Altius’ tenements. The pull apart enchelon faults are ideal sites for the deposition of mineral rich fluids. Gold mineralization occurs within quartz veins typically hosted by narrow 2 to 5m wide faul or shear zones structures, some of which can be traced for many kilometres. The west-northwest trending BRF zone extends over 20 km.
LOCATION RATIONALE
Tenements cover part of the historic Etheridge Goldfield where numerous, structurally-controlled, gold-bearing quartz veins were selectively mined in the past.
Refer to the FNQ Regional Geology Map showing the relationship between Altius’ assets and their location, along strike of the multi-million oz Kidston Gold Mine
Mining infrastructure and environmental permits in place.
Altius completed RC percussion drilling programme at its Ropewalk gold deposit in ML 3417, near Forsayth. Drilled 16 holes for a total of approximately 700 metres. Full results of the programme are in Company Announcements on the ASX web site or click here.
